Saturday, January 30, 2021

Shorthanded Jazz rout Mavs for 11th win in row

Bojan Bogdanovic scored a season-high 32 points and sank seven 3-pointers to lift the shorthanded Utah Jazz to their 11th straight victory, a 120-101 blowout of the Dallas Mavericks on Friday night in Salt Lake City.

Joe Ingles became the franchise’s all-time leading 3-point scorer on a night when Utah hit 20 3-pointers for their ninth consecutive game with 15 or more from beyond the arc. Houston set the NBA team record with 10 straight games with at least 15 triples between the 2018-19 and 2019-20 seasons.

Ingles, who finished with 10 points, surpassed Hall of Famer John Stockton for his Jazz record 846th 3-pointer in his 493rd game. Stockton made 845 3-pointers in 1,504 games during an era in which teams didn’t rely nearly as much on the outside shot as they do now.

Utah played its second straight game without All-Star Donovan Mitchell, who remains in the NBA’s concussion protocol after being hurt Tuesday against the New York Knicks. Luka Doncic amassed 25 points, seven assists and six rebounds, but Dallas lost a fourth game in a row for the first time since a seven-game skid in March 2019.

-reuters


Friday, January 29, 2021

Coronavirus crisis slashes H&M 2020 earnings by 90 pct

High street fashion icon H&M said Friday the coronavirus pandemic had slashed its 2020 net profit by 90 percent, with about a third of its some 5,000 stores currently closed.

For its financial year to November, the company reported a net profit of 1.24 billion Swedish kronor (120 million euros) as sales fell 20 percent to 187 billion kronor.

"Our measures to mitigate the negative effects of ongoing restrictions and closures are continuing," chief executive officer Helena Helmersson said in a statement.

"Although the situation at the time of writing is highly challenging, the H&M group stands strong."

Despite continued lockdowns and restrictions, H&M said it would not increase the number of outlets -- 350 -- targeted for closure in the current year.

At the same time, it would open 100 other stores, as planned.

The business was especially hard hit in its second quarter, the height of the first wave of the pandemic when up to 80 percent of its outlets had to close, H&M said.

Among the worst affected markets, sales in France plunged 28 percent, with Italy down 24 percent, the United States 17 percent and Britain 16 percent.

China and Germany did better, registering losses of just 3.0 percent.

H&M said that conditions had worsened again in the later part of the year as a second wave of the pandemic swept through.

For the three months to November -- its fourth quarter -- sales tumbled 15 percent to 52.55 kronor, with net profit down 41 percent at 2.49 billion kronor.

Agence France-Presse

Wednesday, January 27, 2021

China injects more than 22 million doses of coronavirus vaccines

BEIJING - China has administered about 22.8 million doses of COVID-19 vaccines, a health official said on Wednesday, as the country steps up its campaign ahead of next month's Lunar New Year holidays and the accompanying flurry of travel.

The world's most populous nation has widened its targeted inoculation scheme since mid-December to include more priority groups facing higher risk of virus exposure, in a bid to prevent any outbreaks in winter and spring.

"Overall, the work is progressing in a smooth and orderly manner," Zeng Yixin, vice director of the National Health Commission, told a news conference, referring to the vaccination effort.

China aims to vaccinate 50 million people before the Lunar New Year in February, state media Global Times said this month.

The nationwide vaccine scheme now prioritizes essential groups such as workers in medical, transport and food services, employees and students going abroad. The elderly and others will have to wait.

However, the Chaoyang district in the capital, Beijing, has already started giving vaccines to citizens outside essential groups.

Some communities in the district of Dongcheng said residents aged between 18 and 59 can sign up for inoculation as long as they have no medical conditions that might make vaccination unsuitable. But they did not say when doses would be available. (Reporting by Roxanne Liu and Ryan Woo; Editing by Clarence Fernandez)

-reuters-

The end of offices? New York's business districts face uncertain future

NEW YORK - Boarded-up stores, shuttered restaurants and empty office towers: Covid-19 has turned New York's famous business districts into ghost towns, with companies scrambling to come up with ways to entice workers to return post-pandemic. 

"If they don't come back, we're sunk," said Kenneth McClure, vice president of Hospitality Holdings, whose Midtown bistro pre-coronavirus would buzz with the sound of financiers striking deals at lunch and sharing cocktails after a hard day at the office.

The group has closed its six restaurants and bars in Manhattan, two of them permanently, due to lockdown restrictions that have paused office culture - a culture as intrinsic to the Big Apple as a Broadway show, a yellow taxi or a slice of cheese pizza.

"Customers that you saw three, four, five times a week just virtually disappeared," McClure told AFP, recalling March of last year when the pandemic first swept New York, where it has killed more than 26,000 people.

According to data collected by security firm Kastle Systems, only 14 percent of New York's more than one million office workers had returned to their desks by the middle of January, putting the countless sandwich shops and small businesses in Midtown and Wall Street at risk.

With vaccines now rolling out, corporations and business leaders are grappling with how to attract employees back after spending the best part of a year working from home, and in turn maintaining the character of business districts.

Seventy-nine percent of employees questioned in a PricewaterhouseCoopers survey published this month said that working remotely had been a success, but the report also found that offices are not about to be consigned to history.

Some 87 percent of employees said the office was important to them for collaborating with team members and building relationships, aspects of working life they felt was easier and more rewarding in person than over Zoom.

"Being here, seeing my colleagues and getting out of the house, it changes my mood for the whole week," said Jessica Lappin, speaking to AFP from her office at the Alliance for Downtown New York, where she is president.

Few workers plan on being in offices Monday to Friday, nine to five, though.

"The vast majority of employees say a hybrid system of two-to-three days working from home and two-to-three days working in the office is their preferred approach," said Deniz Caglar, co-author of the PwC report.

Experts say companies should transform their offices away from places where employees come to send emails or make phone calls, which they can do at home, towards more appealing spaces suited for mentoring, camaraderie and fostering creativity.

- 'New future' -

That could mean larger, more flexible conference rooms rather than cubicles, something as simple as better decor, outdoor space like a balcony or terrace and "hoteling," where workers schedule use of a workspace as opposed to every employee having their own desk.

"Think of it as a theater, where you have different sets for different scenes," David Smith, co-author of a Cushman & Wakefield report about workplaces of the future, told AFP.

It may also mean offices becoming more multipurpose -- facilities such as gyms, cafes, launderettes and concierge services that make employees feel their commute is worthwhile -- accelerating a trend that was growing before coronavirus, experts say.

While offering staff flexibility, several major employers are doubling-down on their commitment to offices, betting big on New York's business districts despite the uncertainty caused by the pandemic.

In August, Facebook signed a lease on a 730,000-square-foot space in Midtown, while a Google spokesperson told AFP the technology giant is continuing to expand its campus in the Chelsea neighborhood.

Greenberg Traurig, a law firm that employs 400 people in New York, has installed sneeze guards, touchless faucets, hand sanitizer machines, increased ventilation and distanced work stations.

It has staff coming in on "a rotational basis," and the firm plans to proceed with its move into a new state-of-the-art building near Grand Central Station this year, vice-chairman Robert Ivanhoe told AFP.

In late December, New York Governor Andrew Cuomo cut the ribbon on a new $1.6 billion train concourse servicing Penn Station, highlighting local politicians' hopes of reviving Midtown.

Business district leaders say they are looking to add green spaces to the neighborhoods, while outdoor dining -- extremely rare in New York before the pandemic -- is expected to become a permanent feature.

"There is definitely an opportunity for everyone to be looking at the new future," Alfred Cerullo, president of the Grand Central Partnership business improvement group, told AFP.

Agence France-Presse

Tuesday, January 26, 2021

Death of diesel looms as carmakers accelerate to electric future

PARIS - The world's biggest diesel engine factory in Tremery, eastern France, is undergoing a radical overhaul - it's switching to make electric motors.

From less than 10% of output in 2020, electric motor production at Tremery will double to around 180,000 in 2021, and is planned to reach 900,000 a year - or more than half the plant's peak pre-pandemic output - by 2025.

The shift is testament to a car industry in flux. Demand for diesel cars has slumped since a 2015 pollution scandal, while tough new EU regulations, which fine carmakers for exceeding emissions limits, are pushing them to make more electric models.

So, in the midst of a pandemic and with the level of consumer demand for battery-driven cars still uncertain, automakers from Volkswagen to Nissan are ditching diesel models and ramping up output of electric drives.

"2021 is going to be a pivotal year, the first real transition towards the world of electric models," said Laetitia Uzan, a representative for the CFTC union at Tremery.

But for Tremery's 3,000 workers, and the wider car industry, there's an added complication.

Electric motors only have a fifth of the parts of a traditional diesel engine, putting a question mark over jobs.

Uzan acknowledged a risk that fewer staff may be needed, but was optimistic that could happen "quite naturally" as workers retire without being replaced.

Tremery's owner Stellantis - newly created from the merger of Peugeot maker PSA and Fiat Chrysler to help tackle the industry changes - has said it won't close factories and will seek to protect jobs.

But some industry researchers warn Europe's car manufacturers, already suffering from overcapacity, will have to make big cuts in order to deliver the investments needed to catch up with U.S. electric car pioneer Tesla.

French car lobby group PFA estimates 15,000 jobs linked to diesel are at risk in France, out of 400,000 employed by the industry as a whole.

IAB, a German labour research institute, calculates the arrival of electric vehicles could threaten 100,000 jobs in Germany, or about one in eight German auto industry jobs.

'UNPRECEDENTED YEAR'

The transition from diesel is particularly marked in Europe, where sales of diesel vehicles made up at least 50% of the total as recently as 2015, according to data from research group JATO Dynamics, far higher than in both North America and Asia.

At least 20 car models will no longer offer diesel versions in 2021, from Volkswagen's Polo and Renault's Scenic to Nissan's Micra and Honda's Civic, according to researchers IHS Markit, which says 2021 will be "an unprecedented year" in the shift away from diesel.

Meanwhile, a slew of new electric models will hit showrooms.

The Society of Motor Manufacturers and Traders, Britain's car lobby group, expects 29 new fully-electric and seven plug-in hybrid models will be launched in the country this year, compared with 26 internal combustion engine models - only 14 of which will have diesel variants.

There are encouraging signs that consumer interest in electric vehicles is picking up.

In September, EU registrations of electrified vehicles - fully electric, plug-in hybrid or hybrid - overtook diesel registrations for the first time, according to JATO data.

EU sales of fully-electric and plug-in hybrid vehicles surged 122% in the first nine months of 2020, at a time when overall vehicle sales fell 29% due to the pandemic.

But they still only accounted for around 8% of total sales, with some drivers put off by the limited availability of charging points and higher cost of many electrified models.

At Renault's Cleon plant near the northern French coast, the switch from diesel is well under way, with only half a building housing the assembly lines for diesel motors while hybrid and electric motors are spread over two whole buildings.

"If an employee came back after several years away, they wouldn’t recognize the place," said Lionel Anglais, a union representative with oversight of manufacturing at Renault.

-reuters

Monday, January 18, 2021

China reports more than 100 new COVID cases as New Year holiday exodus looms

BEIJING - China reported more than 100 new COVID-19 cases for the sixth consecutive day, with rising infections in the northeast fuelling concerns of another national wave when hundreds of millions travel for the Chinese Lunar New Year holiday.

Tough new controls in the city of Gongzhuling in Jilin province, which has a population of around 1 million people, brings the total number of people under lockdown to more than 29 million.

According to the Global Times newspaper, at least 11 regions in the provinces of Hebei, Heilongjiang and Jilin have imposed lockdowns and rolled out extensive testing programmes.

The National Health Commission reported 109 new COVID-19 cases for Jan. 17, unchanged from a day earlier. Of the 93 local infections, 54 were in Hebei, which surrounds Beijing.

Hebei authorities vowed on Monday to punish lockdown violations, including the illegal staging of weddings or funerals, Xinhua news agency said.

Northeastern Jilin province also reported a record 30 new cases, underscoring the risk of new clusters emerging.

Daily increases still remain a fraction of what the country saw at the height of the outbreak in early 2020, but officials are concerned infections could spread rapidly nationwide during China's Lunar New Year holiday in less than a month.

Despite travel restrictions, the China Railway Corporation expects around 296 million railway passenger trips during the Lunar New Year break, compared with 410 million in 2019.

Shanghai is one of many cities providing financial incentives for migrant workers not to travel home.

The manufacturing hub of Yiwu on China's eastern coast is also introducing subsidies, including rent reductions, to encourage workers to stay put during the holiday.

China's statistics bureau chief Ning Jizhe said on Monday that the overall impact of the current COVID-19 resurgence on the country's economy remained controllable.

But though Xinhua warned local governments not to "cry wolf", many have been introducing fresh curbs.

Beijing, which reported two new local infections, now requires travellers from abroad to undergo health monitoring for seven additional days following 21 days of medical observation, Xinhua reported on Saturday.

The city of Gongzhuling said on Monday that it is "strictly forbidden" for anyone to go out unless they are scheduled to get a COVID-19 test at a designated site.

The outbreak in Jilin is believed to have been caused by an infected salesman travelling to and from the neighbouring province of Heilongjiang, the site of a previous cluster of cases.

Xinhua said in a commentary piece on Monday that the new clusters of infection were caused by social activities in rural areas and a lack of awareness at the grassroots level, creating "hotbeds" for the virus's rapid spread.

The total number of confirmed COVID-19 cases in mainland China is 89,336, while the death toll remained unchanged at 4,635. The data excludes cases from Macau and Hong Kong, which are Chinese cities but report new cases independently, and self-ruled Taiwan which China claims as its own.

World Health Organization (WHO) representatives said on Friday that its investigation team in China has begun discussions with their Chinese counterparts via video conference as they remain in quarantine. 

(Reporting by Beijing and Shanghai newsrooms; additional reporting by Stephanie Nebehay in Geneva; Writing by Se Young Lee and David Stanway; Editing by Christian Schmollinger, Michael Perry and Raju Gopalakrishnan)

- Reuters